The Internet of Things creates openings in the market to reinvent entire product categories, and build the “household name” brands of tomorrow.
These are the industries that our panelists from the Internet of Things event in New York City are most excited about. It was one of the topics that sparked the most engaging conversation among the panelists, and they were all in agreement.
Patrick Ugeux of ClearChannel likes to see opportunities of cost and process efficiency. Tom Touchet, CEO of City 24/7, notes that there are more people living in cities than ever before, and looks for ways to optimize services that are easily monetizable. CLSA’s Ed Maguire is really excited about medical applications of IoT and big data.
While some verticals, like home automation and wearables, already seem saturated; Matt Turck of FirstMark Capital thinks there is a huge window over the next couple of years in all types of areas.
He recommends innovators think about the mundane. He went on to say that the verticals with the most opportunities aren't always the sexiest, and TechCrunch won't write about you endlessly, but you shouldn’t have trouble raising money.